MG354 Small Business Management

for S1T 2013

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Vision Statement: Park University, a pioneering institution of higher learning since 1875, will provide leadership in quality, innovative education for a diversity of learners who will excel in their professional and personal service to the global community.


MG 354 Small Business Management


S1T 2013 DL


Johansen, Laurence




MBA, Management
BBA, Management & Organization/Marketing

Office Hours

Please do not call after 9:00 pm (EST)

Daytime Phone


Other Phone

Fax:  614-573-7439


Semester Dates

January 14 - March 10, 2013

Class Days


Class Time


Credit Hours


Text: Small Business Management, 16th  Edition, 2012 

Author:  Longenecker, Petty, Palich, and Hoy

ISBN:  978-1-111-53287-1
Publisher:  South-Western, Cengage Learning

Textbooks can be purchased through the MBS bookstore

Textbooks can be purchased through the Parkville Bookstore

Additional Resources:

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Course Description:
MG354 (BA354) Small Business Management (MLL): A detailed study of the relation-ship and functions of accounting management, financial management, and marketing in the successful initiation and operation of a small business. 3:0:3

Educational Philosophy:
Using various means:  internet, supplemental reading, videos, threaded discussions, and writings, I will engage the student in a learning process meant to result in a practical application of the learned material.

Learning Outcomes:
  Core Learning Outcomes

  1. Define the term “small business”.
  2. Explain how owning and operating a small business is different from operating other types of businesses.
  3. Identify the factors that make a family business unique.
  4. Identify the major advantages and limitations of franchising.
  5. List some reasons for buying an existing business.
  6. Describe the characteristics of highly successful startups.
  7. Describe the purpose and contents of financial statements.
  8. Explain how risk management can be used in coping with business risk
  9. Explain the importance of having an exit strategy.

  Instructor Learning Outcomes
  1. Distinguish among the different types and sources of startup ideas and identify the most common sources of startup ideas.
  2. Explain the purpose and objectives of business plans.
  3. Describe small business marketing.
  4. Describe how the nature of a firm affects its financing sources.
  5. Describe techniques used to create a customer profile.
  6. These Learning Outcomes will be assessed in the Weekly assignments, which consist of answering questions and writing reports.
Core Assessment:
All Park University courses must include a core assessment that measures the course's Core Learning Outcomes. The purpose of this assessment is to determine if expectations have been met concerning mastery of learning outcomes across all instructional modalities. 

 For this course, the core assessment is a Comprehensive Final Examination to be administered in all sections of MG 354. This exam is worth at least 30 percent of the student's final grade and will test students' mastery of the Core Learning Outcomes (as listed on this syllabus) through definitions, essay, and/or multiple choice questions. 

 This core assessment is a CLOSED BOOK, CLOSED NOTES comprehensive examination that must be administered and proctored in the classroom and may not be given as a take-home examination. Students should not have access to the exam or its questions before it is administered. The duration of the exam can be no longer than two hours. 

 No computers, or materials other than a writing instrument and a calculator without text functions and communication may be used for the exam; this applies to all students, regardless of whether the exam is for on-line or face-to-face students. Completion of the exam is strictly individual; students may not work in groups to complete the exam.

Class Assessment:

Grading Criteria - The following assessments will be used to determine  your proficiency in the Learning Outcomes:

  • Discussion Questions:  To earn the full twenty (20) points, you must answer all parts of each question and your answers must be submitted by the due date.  One or two sentence answers will not earn the full twenty (20) points.
  • Summary Questions:  To earn the full five (5) points, you must answer each question and your answers must be submitted by the due date.
  • Weekly Reports:  To earn the full 50 points for weeks 1 - 7, all report criteria must be met for that specific week and submitted by the due date.  Also, all reports must be a minimum of 700 words in length, double-spaced, with font no smaller/larger than 12 pt.  Up to 20 points will be deducted for mistakes in English, spelling, punctuation, etc.   
  • To earn the full 150 points for the Week 8 Report, all report criteria must be met and submitted by the due date.  The Week 8 Report must be a minimum of 10 full pages in length, double-spaced, with font no larger than 12 pt.  Up to 30 points will be deducted for mistakes in English, spelling, punctuation, etc.
  • Proctored Comprehensive Final Exam:  This will be a mulitple choice/true-false exam within a specified time limit.  It is worth 300 points. 
  • My goal is to give you prompt, clear, and useful feedback to help you become a more successful student and thinker. Each student is responsible for:
  • Completing weekly Reading assignments.
  • Completing Weekly Discussion Questions
  • Completing Weekly Summary Questions
  • Completing writing assignments, referred to as Reports.
  • Completing a comprehensive Final Examination.


A =  900 - 1000 points
B =  800 - 899 points
C =   700 - 799 points
D =  600 - 699 points
F =  < 600 points

The course grade for students will be based on the overall average of homework and tests taken during the course in accordance with the weighting of the various requirements as stated in the syllabus.

All final exams in all School of Business courses will be comprehensive and will be closed book and closed notes. They will constitute 30% of the total course grade and will not be a take-home exam. They will be completed during the test week in the period designated by the registrar or by the Proctor in the case online courses. If calculators are allowed, they will not be multifunctional electronic devices that include features such as: phones, cameras, instant messaging, pagers, and so forth. Electronic Computers will not be allowed on final exams unless an exception is made by the Dean of the School of Business.

Late Submission of Course Materials:
You may turn in the Week 1 assignments at anytime during the term with no late penalty. Beginning with Week 2, the following policy will be in effect for late assignments: One day late: 10% of the total possible points will be deducted. For example, if the assignment is worth 50 points and it is one day late, 5 points will be deducted from the final point total. Two days late: 30% of the total possible points will be deducted. For example, if the assignment is worth 50 points, and it is two days late, 15 points will be deducted from the final point total. Three days late: 50% of the total possible points will be deducted. For example, if the assignment is worth 50 points, and it is three days late, 25 points will be deducted from the final point total. More than three days late: No points for that assignment. I must have all assignments, to include your proctored final exam, by Sunday of Week 8 which is the last day of the term. Any assignment received after the last day of the term, will not be graded and will earn zero (0) points. There will be no exceptions to this policy. There are no extra-credit or makeup assignments.

Classroom Rules of Conduct:
I expect the same conduct as if we were in a traditional classroom.  This means be professional and courteous in all of your dealings with me and your fellow students.

Course Topic/Dates/Assignments:

Weekly Topics

Discussion Questions

Wednesday of each week


20 pts/wk = 160 pts (16%)

Summary Questions

Sunday of each week


5 pts/week = 40 pts                        ( 4%)


Sunday of each week


50 pts/week x 7 + 150 pts(Week 8) =500pts (50%)

Week 1: The Entreprenurial Life, Integrity, and Ethics







Week 2: Getting Started, Franchising & Buyouts, and The Family Business







Week 3: The Business Plan, Marketing Plan, and Location Plan







Week 4:  Financial Statements, Forecasting Financial Requirements, and Sources of Financing







Week 5: Building Customer Relationships and Product & Supply Chain Management







Week 6: Pricing & Credit Decisions and Promotional Planning







Week 7: Global Opportunities and Managing Operations







Week 8: Managing Risk



Business Plan (150 pts)

Final Exam - 300 points (30%)  Anytime during Week 8This is the Core Assessment

Academic Honesty:
Academic integrity is the foundation of the academic community. Because each student has the primary responsibility for being academically honest, students are advised to read and understand all sections of this policy relating to standards of conduct and academic life. Park University students and faculty members are encouraged to take advantage of the University resources available for learning about academic honesty ( or Park University 2011-2012 Undergraduate Catalog Page 95-96

Plagiarism involves the use of quotations without quotation marks, the use of quotations without indication of the source, the use of another's idea without acknowledging the source, the submission of a paper, laboratory report, project, or class assignment (any portion of such) prepared by another person, or incorrect paraphrasing. from Park University 2011-2012 Undergraduate Catalog Page 95

Attendance Policy:
Instructors are required to maintain attendance records and to report absences via the online attendance reporting system.

  1. The instructor may excuse absences for valid reasons, but missed work must be made up within the semester/term of enrollment.
  2. Work missed through unexcused absences must also be made up within the semester/term of enrollment, but unexcused absences may carry further penalties.
  3. In the event of two consecutive weeks of unexcused absences in a semester/term of enrollment, the student will be administratively withdrawn, resulting in a grade of "F".
  4. A "Contract for Incomplete" will not be issued to a student who has unexcused or excessive absences recorded for a course.
  5. Students receiving Military Tuition Assistance or Veterans Administration educational benefits must not exceed three unexcused absences in the semester/term of enrollment. Excessive absences will be reported to the appropriate agency and may result in a monetary penalty to the student.
  6. Report of a "F" grade (attendance or academic) resulting from excessive absence for those students who are receiving financial assistance from agencies not mentioned in item 5 above will be reported to the appropriate agency.
ONLINE NOTE: Students must participate in an academically related activity on a weekly basis in order to be marked present in an online class. Examples of academically-related activities include but are not limited to: contributing to an online discussion, completing a quiz or exam, completing an assignment, initiating contact with a faculty member to ask a course related question, or using any of the learning management system tools.

Park University 2011-2012 Undergraduate Catalog Page 98

Disability Guidelines:
Park University is committed to meeting the needs of all students that meet the criteria for special assistance. These guidelines are designed to supply directions to students concerning the information necessary to accomplish this goal. It is Park University's policy to comply fully with federal and state law, including Section 504 of the Rehabilitation Act of 1973 and the Americans with Disabilities Act of 1990, regarding students with disabilities. In the case of any inconsistency between these guidelines and federal and/or state law, the provisions of the law will apply. Additional information concerning Park University's policies and procedures related to disability can be found on the Park University web page: .

Additional Information:


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Last Updated:12/10/2012 9:42:31 AM